The Ministry of Industry, Trade, and Investment has initiated the distribution of funds under the Presidential Conditional Grant Scheme after a rigorous selection process.
This scheme, aimed at supporting manufacturers and businesses nationwide, will disburse three categories of funding totaling N200 billion.
In a recent update shared on social media, Minister Doris Aniete announced the commencement of grant disbursement to verified applicants.
She revealed that an unspecified number of beneficiaries have already received their grants, with another substantial disbursement scheduled for Friday, April 19, 2024.
Aniete emphasized the phased nature of the disbursement, ensuring that all verified applicants will eventually receive their grants.
This development comes over eight months after President Bola Tinubu announced the grant, emphasizing its importance in bolstering the manufacturing sector and job creation.
Despite initial delays and complexities in the registration process, the Ministry assures stakeholders of a transparent and diligent approach.
Aniete urged patience from applicants, assuring them of the government’s commitment to their economic well-being.
The phased disbursement plan aims to provide careful consideration to each application, ensuring equitable distribution.
The Ministry expresses gratitude for stakeholders’ understanding and underscores their invaluable contribution to national economic growth.